Robert Kuok
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| Robert Kuok Hock Nien Chinese: 郭鶴年 |
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|---|---|
| Born | 6 October 1923 Johor Bahru, Johor  Malaysia |
| Occupation | Chairman, Shangri-La Hotels and Resorts Chain |
| Net worth | ▲ $10 billion [1] |
| Children | 8 |
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Notes
Has the nickname of the "Sugar King of Asia"
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Robert Kuok Hock Nien (simplified Chinese: 郭鹤年; traditional Chinese: 郭鶴年; pinyin: Guō Hènián) (born 6 October 1923, in Johor Bahru, Johor), is an influential Malaysian Chinese businessman. According to Forbes his net worth is estimated to be around $10 billion on May 2008, making him the richest person in Southeast Asia.[1]
Kuok is media shy and discreet; most of his businesses are privately held by him or his family. Apart from a multitude of businesses in Malaysia, his companies have investments in many countries throughout Asia.[2] His business interests range from sugarcane plantations (Perlis Plantations Bhd), sugar refineries, flour milling, animal feed, oil, mining, finance, hotels, properties, trading, freight and publishing.[1] He was a student from the prestigious school Raffles Institution.
[edit] Biography
Kuok's father arrived in Malaya from Fujian, China at the beginning of the 20th century, and Robert was the youngest of three brothers, born on 6 October 1923, in Johor Bahru. He claims he began in business as an office boy, and later started a business with relatives' support. [2] In fact, upon graduation, he worked in the grains department of Japanese industrial conglomerate Mitsubishi between 1942 and 1945
Kuok senior died in 1948, and Kuok and his two brothers founded Kuok Brothers Sdn Bhd in 1949, trading agricultural commodities. Under the new post-colonial government, Kuok started in the sugar business alongside the government. In 1961, he made a coup by buying cheap sugar from India before the prices shot up. He continued to invest heavily in sugar refineries, controlled 80% of the Malaysian sugar market with production of 1.5 million tonnes, equivalent to 10% of world production, and so earned his nickname "Sugar King of Asia".
In 1971, he built the first Shangri-La Hotel, in Singapore. His first foray into Hong Kong property was in 1977, when he acquired a plot of land on the newly reclaimed Tsim Sha Tsui East waterfront, where he built the second hotel, the Kowloon Shangri-La. In 1993, his Kerry Group acquired a 34.9% stake in the South China Morning Post from Murdoch's News Corporation.
His companies have investments in many countries, including Singapore, the Philippines, Thailand, Mainland China, Indonesia, Fiji and Australia. Businesses in China include 10 bottling companies for Coca Cola, and ownership of the Beijing World Trade Centre.[2]
Freight interests include Malaysian Bulk Carriers Berhad and Transmile Group.
His political influence is attested by his having been selected as one of the advisors on Hong Kong's future in the runup to the transfer of sovereignty of Hong Kong, and his minority stake in CITIC Pacific. He was also instrumental in conveying information and setting up the meetings between Malaysia and China governments leading to full diplomatic cross recognition of the two countries.
Kuok has married twice and has eight children. He officially retired from the Kerry Group on 1 April 1993. One of his sons, Kuok Khoon Ean, now handles most of the day-to-day operations of his businesses. He currently resides in Hong Kong.
On October 31 2009 PPB Group under the flagship of Robert Kuok issued a statement to the Bursa Malaysia that it decided to dispose of its sugar units along with land used to cultivate sugar cane for RM 1.29 billion to Felda.The sales resulted in a one-off gain for the company.The sugar unit and sugar cane plantation were the second largest business segment upon its grain and feed which were topping the sales.
[edit] References
- ^ a b c Robert Kuok, Forbes, February 2006
- ^ a b c Secretive billionaire forsakes retirement, The Standard, 14 September 1993
